Padbury Oakajee proposal 'not realistic': WA Premier

West Australia's Premier has again dismissed a plan by a small miner to build a stalled iron ore export development in the state's Mid West.

Padbury Mining today told the stock market the names of the financiers behind its $6.5 billion plan to get the Oakajee port and rail project off the ground.

After nearly two weeks in a trading suspension, the iron ore explorer told the stock market that Australian private equity firms Alliance Super Holdings and Superkite were parties to a shareholder agreement to provide funds to build the Oakajee project.

Chinese companies looking at project: Barnett

He met with Chinese state owned, CITIC Group, recently in Beijing to discuss restarting the venture.

Superkite is controlled by former hair regrowth king, Roland Bleyer, who ran a chain of hair and beauty clinics in Australia.

Padbury remained in a voluntary suspension from trade pending more details to be released about the finance deal tomorrow.

Padbury said the trading suspension was extended because the market operator, the Australian Securities Exchange, had asked about the information that the miner planned to release to the market including the terms of the shareholder agreement.

The ABC understands that the corporate regulator, ASIC, is making enquiries into Padbury's sharemarket disclosure and share trading.

Last month, the New South Wales Supreme Court ordered Superkite to repay around $65,000 to aged care firm, Craigcare, in a breach of trust case.

A proposal by Alliance Super Holdings last year to provide finance for Perth-based iron ore, gold and uranium explorer, FairStar Resources, did not come to fruition.

FairStar then teamed up with a Chinese state owned infrastructure company to bring its major iron ore project into production.

FairStar told the ASX last year that Alliance Super Holdings was set up in early 2013 "in joint venture with a global network of private equity financiers as a capital funding facilitator".

The ASX statement said ASH "presently has exposure to opportunities ranging from $100M to multiple billions".

In a 1996 Federal Court ruling, a judge described Mr Bleyer's conduct as "dishonest" in a credit card fraud case involving the ANZ Bank and a cosmetics firm.